Capital Investment Counsel Inc Has $10.90 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Capital Investment Counsel Inc lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the second quarter, HoldingsChannel reports. The firm owned 229,390 shares of the network equipment provider’s stock after selling 705 shares during the period. Cisco Systems makes up approximately 1.6% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 12th biggest holding. Capital Investment Counsel Inc’s holdings in Cisco Systems were worth $10,898,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its position in Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares during the period. Hyman Charles D grew its stake in Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after buying an additional 203 shares in the last quarter. Baker Boyer National Bank raised its holdings in Cisco Systems by 2.6% during the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after acquiring an additional 210 shares during the period. Holland Advisory Services Inc. lifted its position in shares of Cisco Systems by 5.3% during the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after acquiring an additional 213 shares in the last quarter. Finally, WealthPLAN Partners LLC boosted its holdings in shares of Cisco Systems by 3.0% in the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after acquiring an additional 213 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now owns 293,184 shares of the company’s stock, valued at $14,659,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The disclosure for this sale can be found here. Insiders have sold 90,004 shares of company stock worth $4,348,600 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 0.5 %

NASDAQ:CSCO traded up $0.26 during mid-day trading on Tuesday, reaching $50.24. 18,686,136 shares of the company’s stock traded hands, compared to its average volume of 19,905,492. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a 50 day moving average price of $46.91 and a 200-day moving average price of $47.86. The firm has a market capitalization of $202.41 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the company posted $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CSCO shares. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.89.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.